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Five months in, Alessandro Melzi is getting started on the plan, but his boss is about to change
A slow destruction of misallocated investment is more likely than a sudden stop
Investors confident software fears are overblown
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Deutsche Bank’s strategic overhaul looks set to maintain the bank’s leading position in debt capital markets and leveraged finance. But it casts doubts over Deutsche’s ability to retain a top tier corporate finance franchise and could signal the slow death of its equity capital markets franchise, writes David Rothnie. -
UBS’s decision to create a global team dedicated to private capital markets is symptomatic of a shift in how companies finance themselves and time their IPOs. With vast pools of private capital available, companies are going public later in their lifecycles, leading to stretched valuations and fewer listed companies. Aidan Gregory reports.
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Germany’s ZF Friedrichshafen has signed a €7.3bn financing from banks to back the automotive technology company’s purchase of Swiss commercial vehicle tech company Wabco.
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Commerzbank has decided to replace its retiring corporate clients head with Roland Boekhout, who works for ING — a bank that had been rumoured to be interested in buying the German firm.
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Germany’s Schuldschein market entered the second half of the year on strong form, after near-record issuance in the second quarter. But sharply tightening pricing in the bond market, which competes with it for deals, could yet scupper hopes for a record year.
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Chinese telecommunications firm Huawei Technologies, which has faced the wrath of US president Donald Trump recently, is syndicating a $1.5bn loan amid a “sensitive time” in US-China trade relations. Pan Yue reports.
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